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Asia-Pacific: Wanda selling film biz stake; Idea Cellular completes share sale

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Asia-Pacific: Wanda selling film biz stake; Idea Cellular completes share sale

S&P Global Market Intelligence provides a biweekly wrap-up of Asia-Pacific media and communications deal announcements, completions and updates from Feb. 5 to Feb. 14.

TOP NEWS

* Dalian Wanda Group Corp. Ltd. agreed to sell a 12.77% stake in its film subsidiary Wanda Film Holding Co. Ltd. to a pair of investors led by Alibaba Group Holding Ltd. for US$1.24 billion, Reuters reported Feb. 5. Alibaba teamed up with Chinese state-backed enterprise Cultural Investment Holdings Co. Ltd. for the investment.

* Idea Cellular Ltd. said Feb. 12 that it completed the allotment of 326,633,165 equity shares to the Aditya Birla Group entities at an issue price of 99.50 Indian rupees per share, amounting to 32.5 billion Indian rupees.

* As expected, Imagina Media Audiovisual S.L. on Feb. 16 confirmed that it entered into an agreement to buy a majority stake in Chinese private equity firm Orient Hontai Capital, acquiring the shares held by Spanish private equity firm Torreal SA, Mexican broadcaster Grupo Televisa SAB and Mediavideo, which totals to a 53.5% stake in Imagina, at an enterprise value of €1.9 billion.

TECHNOLOGY

* Kakao Corp. said Feb. 14 that affiliate Kakao Mobility will acquire South Korean carpooling platform Luxi.

* Aviva Plc on Feb. 13 said it completed the sale of a 60% stake in its Hong Kong subsidiary, AVIVA Life Insurance Co. Ltd., to Tencent Holdings Ltd. and Chinese hedge fund Hillhouse Capital Group Holdings Ltd.

* NEC Corp. on Feb. 9 said it increased its investment in South Africa-based ICT solutions company XON Holdings Pty. Ltd. to 59.1% from 25%, making it a subsidiary through NEC Europe Ltd.

* Alibaba Group subsidiary Alibaba Investment agreed to buy a 38% stake in Shiji Retail Information Technology Co. Ltd., a subsidiary of Beijing Shiji Information Technology Co. Ltd. that tracks data on hotels and retailers, according to a document filed with the Shenzhen Stock Exchange on Feb. 8. Alibaba will reportedly invest US$486 million to acquire the stake.

MEDIA AND TELECOMMUNICATIONS

* Dalian Wanda sold a 17% stake in Spanish soccer club Atletico de Madrid to Quantum Pacific Group, it said Feb. 14.

* Dentsu Inc. on Feb. 13 said that its U.K. unit Dentsu Aegis Network Ltd. acquired all the shares of San Francisco-based branding and design agency Character SF LLC. Dentsu on Feb. 9 also said it agreed to acquire Tokyo-based AI-focused developer Data Artist Inc.

* Videocon d2h on Feb. 12 confirmed plans to merge with Dish TV India Ltd. by the end of February.

* WPP Plc-owned GroupM on Feb. 12 said that it agreed to acquire India-based digital creative agency The Glitch.

* Euromoney Institutional Investor Plc on Feb. 12 agreed to sell its Hong Kong-based Global Markets Intelligence Division to a Chinese consortium including news outlet Caixin Global Ltd., the overseas arm of Caixin Media Co. Ltd., for US$180.5 million.

* Prudential Life Assurance divested some of its shareholdings in two Indonesian media companies, Kontan reported Feb. 9. Prudential's interest in PT Intermedia Capital Tbk will drop from 5.29% to 5.26%, while its interest in PT Visi Media Asia Tbk will slightly drop to 7.91%.

* Singtel, via its unit Singtel International Investments Pvt. Ltd., will spend about 26.5 billion Indian rupees to increase its stake to 39.5% in Bharti Telecom Ltd., according to a Feb. 5 press release.